“I don’t think the party is over. I think what we are seeing is a transition in regimes,” El-Erian told CNBC. “One from where markets were comforted by ample, predictable liquidity to now having to recognize that divergent fundamentals are going to be the driver of asset prices.”

If volatility continues to fuel the rest of 2018 and beyond, the markets can expect to see more value-oriented plays as investors become more defensive with their portfolios and cycle out of growth-fueled investments.

“When momentum starts to flatten out or not continue in its existing incline, value starts making more sense because you can still get the growth by purchasing or investing in equities that basically are on sale,” said Kevin Miller, chief executive officer of Minnesota-based E-Valuator Funds. “That’s why at this point in time value will be a preferred spot to be.”

This could include a shift towards more utilities-focused ETFs, and as such, here are three large cap value plays investors should consider, especially in today’s times of volatility.

1. First Trust Utilities AlphaDEX ETF (NYSEArca: FXU)

FXU seeks investment results that correspond generally to the price and yield (before the fund’s fees and expenses) of an equity index called the StrataQuant® Utilities Index. The fund will normally invest at least 90% of its net assets (including investment borrowings) in common stocks that comprise the index. The index is a modified equal-dollar weighted index designed by IDI to objectively identify and select stocks from the Russell 1000® Index in the utilities sector that may generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX® selection methodology.

2. Invesco S&P 500 Equal Weight Utilities ETF (NYSEArca: RYU)

RYU seeks to track the investment results of the S&P 500® Equal Weight Telecommunications Services & Utilities Index. The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. The underlying index is an equal-weighted version of the S&P 500® Utilities Index. Strictly in accordance with its guidelines and mandated procedures, the index provider compiles, maintains and calculates the underlying index, which is comprised of common stocks of companies in the utilities sector and telecommunication services of the S&P 500® Index.

3. JHancock Multifactor Utilities ETF (NYSEArca: JHMU)

JHMU seeks to provide investment results that closely correspond to the performance of the John Hancock Dimensional Utilities Index (the index). The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in securities that compose the fund’s benchmark index. The index is designed to comprise securities in the utilities sector within the U.S. Universe whose market capitalizations are larger than that of the 1001st largest U.S. company at the time of reconstitution.

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